Srinath Sai Ram
Hr Manager
Hr Consultant
Asst Manager Hr
Accounts Executive
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Should we calculate EDLI Admin charges (PF related) on total EDLI Wages of the Company or on the individual contribution of the member ?
For Example: Total EDLI Wages of 5 Members 41,951/-
if we calculate on total wages Charges will 0.01% = 4/-
But if we calculate on individual wages
15,000 = 2
15,000 = 2
5,661 = 1
6,290 = 1
41,951 = 6
It will be Rs 6/-
from first method we get Rs 4/- & in Second method we get Rs 6/-. Which one is Correct ? Please anybody help
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EDLI and total PF is an individual basis charge. So calculation on company basis will be faulty. Also your contribution is entered by the department on individual basis. Thus they may send you demand for the difference.
Yes i know EDLI (0.5%) and PF(12%) Contribution must on individual basis. But what about EPF Admin Charges (0.85%) & EDLI Admin Charges (0.01%) ?
That’s what is said, department manages each employee record separately, for that it makes those charges. So the payment is made on employee basis.
01.01.2015 onwards 0.85% On total pay on which contributions are payable. Minimum Administrative charges payable per month per establishment is Rs. 500/-.
On total pay on which contributions are payable
EDLI is now calculated by the department itself, employer has to enterin ECR just gross wages, EPF wages , EPS wages, EDLI Wages ( EDLI wages are equal to EPF wages) and their contributions for EE share, EPS share , difference, NCP days
balance EDLI charges are now calculated by department itself at the the time of challan generation.
But Sir, What about EDLI Adminitrative Charges & EPF Adminitrative Charges ?
EDLI Admin. Charges are calculated on total EDLI wages, subject to a minimum payment of Rs. 200/- per month.
EDLI and EDLI admn. shall be calculated on total EDLI wages and not on individual salaries. In PF version-2, EDLI 0.5% is calculated by the system itself.
A/C NO2 @0.85# Minimum Rs500/- or Which ever is Higher on EPF Wages
A/C #22 @0.01% Minimum Rs200/- or Which ever is Higher on EDLI Wages & Non EPS Members Wages Subject to a Maximum of Rs15,000/- Per Employee
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